Nasdaq Backs Tokenized Stocks with $100M Payward Stake
Nasdaq has invested $100 million in Payward, the parent company of crypto exchange Kraken. This strategic partnership aims to develop infrastructure for trading tokenized stocks.
The investment will support joint work on Nasdaq Equity Tokens (NETs) with Payward's xStocks platform. The goal is to launch these tokenized equities by Q2 2027, enabling trading and settlement beyond conventional market hours.
Payward's co-CEO Arjun Sethi stated that the 'next phase' of the collaboration will put NETs 'onto rails that do not close, with shareholder rights intact.'